The worth of art is primarily determined by perception. The artwork has no limits, no restrictions, and no one can tell you what art is. However, it is a multibillion-dollar business. Becoming an artist has many difficulties, and appreciating art is also a form of art. And it still boggles the imagination that anything that seems to have been drawn by a kid is worth billions, as well as what renders it more costly than the one before it. There are numerous ways of looking at it; however, if you are curious that why original art is so expensive, or even what makes artwork so costly or worthless, this post is for you.
Reasons Why Some Art Is So Expensive
The reasons why art supplies are overpriced are mentioned below:
- Social Status
Many individuals see the artwork as a symbol of social status and a means to a luxurious living. There are many art exhibitions, fundraisers, and gatherings, and the wealthy and influential see attendance at such occasions as a sign of distinguished status. Furthermore, investing in artwork enables the affluent to make a public statement regarding their purchasing power and becoming the center of attention.
- Supply And Demand
If the need for something rises, the supply must catch up in order to satisfy the consumers. However, whenever the supply is limited, and the demand is high, the item becomes rare. Some artworks are exorbitantly priced because the artists who created them are dead or have left the artistic world. When an artist dies, the value of his or her work soars as it renders that artwork more unique and valuable. The majority of outstanding work by prominent painters is kept in museums. And that’s why an artwork that appears like a child splattered color on a canvas may be valued millions of dollars at times.
- Art Exhibitions Are Costly
When assessing art, it is necessary to evaluate more than simply its monetary worth. Art exhibitions and functions are costly. If you truly wish your work to be shown at the world’s most prestigious art galleries, you will have to pay a fee. Getting membership in some prestigious art group may be too costly. As a result, even if you like art, you would not be able to buy it. Art exhibits, fairs, and some other events are all expensive. Bringing art to people’s attention and helping them understand its presence is not inexpensive. As a result, it is another reason why certain works of art are so valuable.